15 de agosto de 2020
ÚLTIMAS NOTICIAS:
Hispanic World

Trump rips Fed, urges rate cuts and zero interest rates

Washington, Sep 11 (efe-epa).- President Donald Trump renewed his attacks on Federal Reserve policy makers on Wednesday, calling them "Boneheads" and urging that they cut interest rates and even consider taking short-term rates to zero or negative.

 Federal Reserve chairman Jay Powell speaks during a Council on Foreign Relations event on June 25, 2019, in New York, New York. EPA-EFE FILE/Justin Lane

Federal Reserve chairman Jay Powell speaks during a Council on Foreign Relations event on June 25, 2019, in New York, New York. EPA-EFE FILE/Justin Lane

Washington, Sep 11 (efe-epa).- President Donald Trump renewed his attacks on Federal Reserve policy makers on Wednesday, calling them "Boneheads" and urging that they cut interest rates and even consider taking short-term rates to zero or negative.

"The Federal Reserve should get our interest rates down to ZERO, or less, and we should then start to refinance our debt. INTEREST COST COULD BE BROUGHT WAY DOWN, while at the same time substantially lengthening the term," Trump said in a Twitter post.

The Federal Reserve's Federal Open Market Committee (FOMC), which sets the US central bank's interest rate policy, is scheduled to hold its next meeting Sept. 17-18.

"It is only the naïveté of Jay Powell and the Federal Reserve that doesn't allow us to do what other countries are already doing. A once in a lifetime opportunity that we are missing because of 'Boneheads,'" Trump tweeted.

The president has been attacking Powell, who he named to head the Federal Reserve, and monetary policy makers for months for not cutting interest rates to stimulate the economy, which is still growing and boasts a strong labor market.

"We have the great currency, power, and balance sheet ... The USA should always be paying the the lowest rate. No Inflation!" Trump tweeted.

On July 31, the FOMC cut the benchmark rate for the first time in 11 years, lowering it to a range of 2 percent to 2.25 percent.

The widely expected move marked the first reduction in the federal funds rate since the 2008 financial crisis.

The central bank said US economic activity has been rising at a moderate rate, job gains have been solid and the unemployment rate has remained low, but it justified the move by citing "muted inflation pressures" and "implications of global developments for the economic outlook."

"The outlook for the US economy remains favorable, and this action is designed to support that outlook," Powell said in a news conference after the monetary policy action.

The United States has the highest interest rates among the G7 countries. The European Central Bank (ECB) and the Bank of Japan (BOJ) have both set their benchmark rates below zero.

The US gross domestic product (GDP) grew at an annualized rate of 2 percent in the second quarter, down from the 3.1 percent growth registered in the first quarter.

Trump, who wants higher economic growth ahead of his re-election bid in 2020, has repeatedly pressed the Fed in recent months to lower interest rates and thus make it cheaper for businesses and consumers to borrow.

The president has also criticized the Fed for raising interest rates four times in 2018, while the central bank said it was returning its target federal funds rate to a historically normal level after holding it at near zero following the 2008-2009 global recession. EFE

Histórico de noticias
Nueva Jersey enviará el voto por correo a la ciudadanía pese a la ofensiva de Trump

Nueva York, 14 ago (EFE).- El gobernador de Nueva Jersey, Phil Murphy, aseguró este viernes que su estado se encargará de enviar votos por correo a todos...

Raptors down Grizzlies, Thunder over Wizards, Spurs jump Pelicans in NBA action

Lake Buena Vista, Florida, Aug 9 (efe-epa).- Basket-scoring power forward Pascal Siakam, from Cameroon, and Congolese-Spaniard Serge Ibaka's strength in the...

US surpasses 5 mn Covid-19 cases, with 19.4 mn worldwide

Washington/Geneva, Aug 9 (efe-epa).- The United States, the country with the largest number of coronavirus cases and the world's highest death toll from...

Ex-Colombian President Uribe tests positive for Covid-19

Bogota, Aug 5 (efe-epa).- Former Colombian President Alvaro Uribe, who governed from 2002-2010, reportedly tested positive for Covid-19 just hours after the...

Samsung updates Note, Fold in sales freefall due to pandemic

San Francisco, Aug 5 (efe-epa).- South Korean multinational Samsung on Wednesday unveiled updated models of its high-end mobile phones Note and the foldable...

US, China digging in on Internet regarding TikTok

By Jairo Mejia/Javier Garcia

Key indigenous leader in Brazil's Amazon dies from Covid-19

Brasilia, Aug 5 (efe-epa).- Chief Aritana Yawalapiti, a well-known indigenous leader in Brazil's Amazon region, died Wednesday at age 69 from Covid-19, the...

From plot vs. China to Colombian virus, Venezuela's COVID tales abound

By Gonzalo Dominguez Loeda

Colombian high court orders house arrest for ex-President Uribe

Bogota, Aug 4 (efe-epa).- Colombia's Supreme Court on Tuesday ordered house arrest for former President and Sen. Alvaro Uribe amid judicial proceedings...

Hurricane Isaias lashes US east coast, killing at least 1

Washington, Aug 4 (efe-epa).- Tropical Storm Isaias, which made landfall as a Category 1 hurricane Monday night in North Carolina, is continuing its...

With virtual hugs and vigils, El Paso remembers victims of Walmart massacre

El Paso, Texas, Aug 3 (efe-epa).- National leaders and organizations on Monday once again remembered the 23 people killed in the mass shooting a year ago at...

Trump gives ultimatum to TikTok: Agree to be sold to US firm or be banned

Washington, Aug 3 (efe-epa).- President Donald Trump on Monday gave popular Chinese video-sharing app TikTok until Sept. 15 to allow itself to be purchased...

The explosive secret underlying Galapagos Islands' volcanoes

By Kevin Hidalgo

US in "new phase" of virus pandemic with infections in urban, rural areas

Washington, Aug 2 (efe-epa).- The United States is facing a "new phase" in the coronavirus pandemic, which is accelerating its spread in both urban and...

Dragon Endeavour space capsule returns 2 astronauts to Earth from ISS

Miami, Aug 2 (efe-epa).- SpaceX's Dragon Endeavour space capsule, carrying two NASA astronauts - Robert Behnken and Douglas Hurley - made a controlled...

Mnuchin: Trump could force sale or block TikTok in US

Washington, Aug 2 (efe-epa).- Treasury Secretary Steven Mnuchin said Sunday that President Donald Trump could force the sale of - or block - popular Chinese...

Isaias slows as it approaches Florida's Atlantic coast

Miami, Aug 2 (efe-epa).- Tropical Storm Isaias slowed as it approached Florida's Atlantic coast, where authorities are not ruling out that it could make...

Hollywood pays tribute to Olivia de Havilland

By Javier Romualdo

Tropical Storm Hanna causes flooding in NE Mexico

Mexico City, Jul 26 (efe-epa).- Tropical Storm Hanna was downgraded Sunday afternoon to a tropical depression, although it is still causing flooding in...

Night of violent protests, riots in Portland, Seattle

By Alfonso Fernandez

Beloved TV talk and game show host Regis Philbin dies

New York, Jul 25 (efe-epa).- Iconic and widely popular US television talk and game show host Regis Philbin has died of natural causes, his family told...

Hanna touches land in Texas, Gonzalo drops in strength to tropical depression

Miami, Jul 25 (efe-epa).- Hanna, the first hurricane of the Atlantic hurricane season, strengthened on Saturday and made landfall on Padre Island, along the...

Ecuador seeks regional support over threat of foreign fishing fleets

Quito, 25 Jul (efe-epa).- Ecuadorian President Lenin Moreno reported Saturday that he has requested meetings with some Pacific coastal nations to seek a...

Florida surpasses New York with more than 414K COVID-19 cases

Miami, Jul 25 (efe-epa).- Florida is the US state with the second highest number of confirmed coronavirus cases, after California, having surpassed New York...